Posts by Stephanie Irvin
TikTok drives ByteDance’s 29% growth while China business slows
[NEW YORK] ByteDance’s revenue jumped 29 per cent to US$155 billion in 2024, after online video phenom TikTok drove a worldwide expansion that helped offset an economic downturn back home in China. Its international sales grew a much quicker 63 per cent to US$39 billion, contributing to roughly a quarter of the topline, according to…
Read MoreBain seeks to raise at least US$7 billion for new Asia PE fund
[HONG KONG] Bain Capital is looking to raise billions of US dollars for its next Asia fund and a special situation fund in the region, as it moves to back private equity (PE) and credit deals in countries from Japan to India, according to sources familiar with the matter. The investment firm plans to raise…
Read MoreBuying the dip, nervous selling drive trading volumes up in Singapore amid tariff volatility
[SINGAPORE] Brokerages recorded a surge in trading activity amid heightened market volatility after US President Donald Trump announced sweeping tariffs on Apr 2. Trading volume for Tiger Brokers’ Singapore platform shot up 124 per cent from Apr 1 to Apr 4, as trading value jumped 313 per cent, said James Ooi, market strategist at Tiger…
Read MoreBerkshire yen bond deal is its smallest ever amid trade war
[TOKYO] Berkshire Hathaway sold 90 billion yen (S$834 million) of bonds on Friday (Apr 11) in its smallest yen deal ever in a market rocked by an escalating trade war. All six tranches in the offering by Warren Buffett’s firm, ranging from three years to 30 years, offered higher premiums than the previous yen note…
Read MoreSingapore’s STI tumbles more than 3% as tariff tensions resume
The US confirms that Trump’s tariff hikes brought the additional rate on many Chinese products to 145% [SINGAPORE] Singapore shares declined more than 3 per cent after the market opened on Friday (Apr 11), as tariff uncertainty returned. The US confirmed on Thursday that President Donald Trump’s tariff hikes brought the additional rate on many…
Read MoreBig US companies went bankrupt at fastest pace since 2010: S&P
[NEW YORK] Large US companies filed bankruptcy at the fastest rate in 15 years to the first three months of 2025, S&P Global Market Intelligence said on Thursday (Apr 10). A total of 188 bankruptcies were filed by large companies to March, the most since 254 such filings were made over the first three months…
Read MoreChinese tea chain Chagee launches US IPO defying stock slump
[NEW YORK] Chagee Holdings, a Chinese bubble tea chain, is seeking to raise US$411 million in an initial public offering (IPO) in the US, despite spiking stock volatility from US President Donald Trump’s tariff measures. The Shanghai-based company is offering 14.68 million American depositary shares for US$26 to US$28 each, according to a filing on…
Read MoreTSMC sales beat estimates as AI demand soars
[TAIPEI] Taiwan Semiconductor Manufacturing Company’s (TSMC) quarterly revenue rose a larger-than-anticipated 42 per cent, reflecting strengthening demand for artificial intelligence (AI) servers and smartphones before US tariffs kicked in. That marked TSMC’s fastest pace of growth since 2022. Electronics manufacturers had stockpiled goods in US warehouses in anticipation of potential trade and shipping disruptions. The…
Read MoreLatest Singapore six-month T-bill cut-off yield retreats to 2.5%
[SINGAPORE] The cut-off yield for Singapore’s latest six-month Treasury bill (T-bill) tumbled to 2.5 per cent, the auction results by the Monetary Authority of Singapore on Thursday (Apr 10) showed. This marked a drop from the 2.73 per cent cut-off yield offered in the previous six-month auction that closed on Mar 26. Demand for the…
Read MoreAirbus plans to buy US$2 billion worth of parts from India every year
Indian carriers have a pending order book of about 1,800 aircraft, one of the world’s largest order pipelines [NEW DELHI] Airbus plans to bolster its sourcing from India to US$2 billion a year by 2030 – a jump of almost 43 per cent from the current levels – as it eyes growing sales in the…
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